{"id":6622,"date":"2015-08-22T14:11:18","date_gmt":"2015-08-22T14:11:18","guid":{"rendered":"\/?p=6622"},"modified":"2015-08-22T14:39:40","modified_gmt":"2015-08-22T14:39:40","slug":"medbox-inc-otcmktsmdbx-catches-its-breath","status":"publish","type":"post","link":"\/articles\/medbox-inc-otcmktsmdbx-catches-its-breath\/","title":{"rendered":"Medbox Inc (OTCMKTS:MDBX) Catches Its Breath"},"content":{"rendered":"\n<p><img decoding=\"async\" style=\"float: right;\" src=\"\/\/s.hotstocked.com\/hotstocked.com\/repository\/articles\/91\/91099\/mdbx_chart.png\" border=\"0\" width=\"450\" \/>After a brief pop following the publication of its latest quarterly report, Medbox Inc (OTCMKTS:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MDBX\">MDBX<\/a>) logged a number of red session that sent it back under six cents per share. Yesterday the stocked closed 3% up on its heaviest volume for the past month.<\/p>\n<p>The company put up its latest quarterly report last Friday. Even though the results were less than impressive, <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MDBX\">MDBX<\/a> managed to score a double-digit green session on the day the report came out. Here is the short version of the important numbers in the report:<\/p>\n<ul style=\"list-style-type: disc;\">\n<li>$564 thousand in cash<\/li>\n<li>$13 million in current liabilities<\/li>\n<li>$59 thousand in Q2 revenues<\/li>\n<li>$11.3 million in Q2 net loss<\/li>\n<\/ul>\n<p>Those numbers are a far cry from the millions of annual revenues <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MDBX\">MDBX<\/a> erroneously reported for 2012 and 2013. The issue with revenue recognition led to the need to restate a number of reports and the new revenue figures were considerably smaller. This restatement and the disappointing new results put up were what led to the abysmal chart performance of <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MDBX\">MDBX<\/a> over the past nine months.<\/p>\n<p>The company put up a brand new press release yesterday, informing that in its preparations to enter the &ldquo;cultivation market&rdquo;, <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MDBX\">MDBX<\/a> employed the services of an Israeli marijuana consultancy company. The PR is likely the reason why <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MDBX\">MDBX<\/a> closed green yesterday.<\/p>\n<p>More importantly, the company also published an 8-K two days ago. It revealed that <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MDBX\">MDBX<\/a> signed an agreement for the purchase of convertible debentures in the amount of up to $3.97 million. The first closing under the deal was in the amount of $650 thousand, the next one is going to take place next week. Sadly, the convertibles have a provision that allows them to convert into common stock at a fixed 49% discount from the lowest daily VWAP of <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MDBX\">MDBX<\/a> common stock 30 days prior to conversion.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After a brief pop following the publication of its latest quarterly report, Medbox Inc (OTCMKTS:MDBX) logged a number of red session that sent it back under six cents per share. Yesterday the stocked closed&#46;&#46;&#46;<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1192],"class_list":["post-6622","post","type-post","status-publish","format-standard","hentry","category-news","tag-mdbx"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/6622","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=6622"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/6622\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=6622"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=6622"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=6622"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}